FX:EURJPY Ok we know it is a downtrend. The best point to enter are the closer to my lines drawing the bottom of the dynamich range wich is being broken by a new expansion. Surely, price is going to do a pause or a contraction because now low liquidity is coming during Asia and Sidney session.
If you are long price could draw a third solid expantion. Price is reaching the D1 Trendline so be careful with the regret.
I hope you saw my short set up yesterday and caught a good amount of pips from today's sizeable break down. Price action is likely to retrace to the 50% fib level and consolidate before continuing downwards, it may extend beyond the 50% fib as there are now high level news events for the dollar or sterling tomorrow to spur more selling. My view is that entries...
EURUSD: The pair’s attempt on the upside was rebuffed by the bears on Monday to close slightly higher. This development leaves the risk lower in the direction of its broader downside bias. We look for more weakness to occur towards the 1.0700 level. EURUSD Strategy: Sell at 1.0752, Stop loss at 1.0818, Price target at 1.0652 & 1.0600
EURUSD: Having EUR closed slightly lower the past week on a rejection candle print, it faces additional weakness in the new week. This view remains valid as long as the pair can trade and hold below its key resistance zone at 1.1459/94 level. Support lies at the 1.1300 level. EURUSD STRATEGY: Sell at 1.1357 Stop Loss at 1.1429 Price target at 1.1263 & 1.1180
GBPUSD: GBP sold off strongly the past week leaving risk of more declines. However, we think while its key support at the 1.5329 level holds as support a move higher on recovery should occur. We look to buy on recovery at the following levels Strategy: Buy at 1.5375, Stop loss at 1.5303, Price target at 1.5475 & 1.5570